You are here
Economy OPEC Russia Top News U.S. United States 

Oil prices rise on signs of gradually tightening market

August 22, 2017 By Henning Gloystein and Aaron Sheldrick SINGAPORE (Reuters) – Oil prices rose on Tuesday, lifted by indications that supply is gradually tightening, especially in the United States. Brent crude futures, the international benchmark for oil prices, were at $51.91 per barrel at 0607 GMT, up 25 cents, or 0.5 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $47.60 a barrel, up 23 cents, or 0.5 percent. “U.S. crude oil stocks have been falling consistently in recent weeks. If the downtrend in…

Read More
Economy industry report Russia Top News U.S. 

Oil prices edge up on falling US crude stocks, but global glut still weighs

August 16, 2017 By Henning Gloystein SINGAPORE (Reuters) – Oil prices edged up on Wednesday on a fall in U.S. crude inventories, although markets were still being weighed down by general oversupply. Brent crude futures were at $51.02 per barrel at 0218 GMT, up 22 cents or 0.4 percent from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $47.70 a barrel, up 15 cents, or 0.3 percent. U.S. crude inventories fell by 9.2 million barrels in the week to Aug. 11 to 469.2 million, industry group…

Read More
Economy industry OPEC Russia Top News U.S. 

Oil dips on high OPEC supplies, defying falling U.S. crude stocks

August 3, 2017 By Henning Gloystein SINGAPORE (Reuters) – Oil dipped on Thursday as a rally that has pushed up prices by almost 10 percent since early last week lost momentum despite renewed signs of a gradually tightening U.S. market. Strong demand in the United States provided prices with support, traders said, but ongoing high supplies from OPEC producers were restricting further gains. Brent crude futures, the international benchmark for oil prices, were trading down 17 cents, or 0.3 percent, at $52.19 per barrel at 0147 GMT. U.S. West Texas…

Read More
Economy election President Donald Trump Russia Tokyo Top News 

Euro rises above $1.1480 to highest level since May 2016

July 12, 2017 TOKYO (Reuters) – The euro edged up to its highest level since May 2016 in Asian trading on Wednesday, as the dollar came under pressure following President Donald Trump’s eldest son’s release of emails suggesting he welcomed Russia’s help in last year’s election campaign. The currency was up 0.1 percent at $1.1480 after rising as high as $1.1482. (Reporting by Tokyo markets team; Editing by Sam Holmes) Powered by WPeMatico

Read More
Business Libya Nigeria OPEC Russia 

Despite weak oil prices, OPEC still pockets more dollars

June 28, 2017 By Alex Lawler LONDON (Reuters) – With world oil inventories swelling despite a global pact on cutting output and crude prices falling by a fifth in the past month, OPEC appears to be losing its battle to balance the market. But there is one crucial fight the oil-exporting group has been winning so far: its members have earned more money this year than last and the prospect of higher revenues is likely to motivate OPEC to stick with output cuts or even deepen them. OPEC’s first output…

Read More
ANZ Economy OPEC Russia Top News United States 

Oil prices edge up; still near 2017 lows on stubborn glut

June 16, 2017 By Julia Simon NEW YORK (Reuters) – Oil prices on Friday bounced up off the year’s lows as some producers reduced exports and U.S. rig additions slowed, but the rebound was modest and crude posted its fourth weekly decline on persistent concerns about global oversupply. Brent crude futures rose 45 cents to settle at $47.37 per barrel and U.S. West Texas Intermediate (WTI) crude settled at $44.74 per barrel, up 28 cents. Both benchmarks notched a weekly loss exceeding 1.6 percent. On Thursday, oil prices hit six-month…

Read More
ANZ Economy OPEC Russia Top News United States 

Oil sits near half-year lows as global supply overhang weighs

June 16, 2017 By Henning Gloystein SINGAPORE (Reuters) – Oil prices dipped early on Friday and were not far off six-months lows as an ongoing supply overhang weighed on markets despite an OPEC-led effort to cut production and prop up prices. Brent crude futures were down 6 cents, or 0.1 percent, at $46.86 per barrel at 0045 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 8 cents, or 0.2 percent, at $44.38 per barrel. Prices for both benchmarks are down by more than 13 percent since late May,…

Read More

Oversold: Oil traders punish OPEC for promising too much

May 26, 2017 By Dmitry Zhdannikov, Rania El Gamal and Ernest Scheyder VIENNA (Reuters) – As OPEC’s latest meeting wrapped up in Vienna on Thursday night, ministers congratulated each other on its rare spirit of amity and consensus. The talks were, without a doubt, a success. But two hours later, one veteran delegate was staring in despair at the numbers flashing red on his smartphone showing crude down some 5 percent to $51 a barrel. “That is a disaster,” he said. While OPEC has worked hard in recent years on…

Read More

OPEC extends oil output cut by nine months to fight glut

May 25, 2017 By Rania El Gamal, Ernest Scheyder and Alex Lawler VIENNA (Reuters) – OPEC decided on Thursday to extend cuts in oil output by nine months to March 2018, OPEC delegates said, as the producer group battles a global glut of crude after seeing prices halve and revenues drop sharply in the past three years. The cuts are likely to be shared again by a dozen non-members led by top oil producer Russia, which reduced output in tandem with the Organization of the Petroleum Exporting Countries from January….

Read More

Asian stocks set to drift higher on U.S. cues; dollar weak

May 22, 2017 HONG KONG (Reuters) – Asian stocks are set to edge higher on Monday following cautious gains on Wall Street, though the dollar is set to come under pressure as Washington’s political turmoil undermines confidence in U.S. economic policy. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.42 percent on Monday helped by some gains in Korean and Japanese stocks. U.S. stocks ended up on Friday but closed below their session highs on renewed concerns about Donald Trump’s presidency, following two new media reports of possible…

Read More
Facebook Auto Publish Powered By : XYZScripts.com